Saudi Arabia Oilfield Chemicals Market to increase at a CAGR of 4.81% through 2028
Growing Focus Towards Local Manufacturing will drive
Saudi Arabia Oil Field Chemicals Market in the
forecast period 2024-2028.
According to TechSci Research
report, “Saudi Arabia Oilfield
Chemicals Market- Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028”, Saudi Arabia Oil Field
Chemicals Market Size is USD 928.27 in 2022 and is anticipated to increase at a
CAGR of 4.81% in the forecast period. Oilfield chemicals are substances used in
the exploration of oil and gas. They are used in drilling
operations and production facilities to increase the extraction process efficiency
and efficacy. These substances aid in the smooth operation of oil fields and
reduce the costs incurred by frequent breaks and delays while drilling.
Furthermore, as crude oil
supplies decline and the oil industry seeks more advanced techniques for
resource extraction, the use of oil field chemicals thus become increasingly
important. The increased oil and gas exploration and production, the focus on
challenging offshore and frontier areas, rising well depths, and the
requirement to maximize current good output in the nation are the main drivers
of the Saudi Arabia Oil Field Chemicals Market.
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Saudi Arabia Oil
Field Chemicals Market is segmented based on application, oil field type, type,
and region. Based on the application, the market is fabricated into Drilling,
Completion Method, Cementing, Stimulation, Enhanced Oil Recovery, and Others. Drilling fluids play a key role to drill
wells faster, deeper, longer, and in more challenging situations. Based on oil field type, the market is divided
into Onshore and Offshore. Based on type, the market is segmented into Special
Oil Field Chemicals and Commodity Oil Field Chemicals.
Major
companies operating in the Saudi Arabia Oil Field Chemicals Market are:
- Saudi Basic Industries Corporation
- Baker Hughes Saudi Arabia Co.
- Halliburton Co Saudi Arabia
- Schlumberger Middle East Sa
- Saudi Arabia BASF
- Dow Saudi Arabia
- Aubin Ltd.
- Arkema Chemicals
Saudi Arabia Company
- The Solvay Group
- Clariant Ali Al Abdullah Al Tamimi
Company Ltd
- Redachem United for Trading Ltd.
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“The
market is influenced by the rise in the use of chemicals in drilling fluid
activities, production chemicals, workover and completion, industrial and
institutional cleaning chemicals, specialized advanced polymers, pesticides,
and building chemicals, including other uses. Moreover, the market for
specialty oilfield chemicals is positively impacted by increased crude oil
output, an increase in deep and ultra-deep oil and gas drilling and growing
industrialization” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Saudi Arabia Oil Field Chemicals
Market- Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028. By Application (Drilling, Completion Method,
Cementing, Stimulation, Enhanced Oil Recovery, Others), By Oil Field Type
(Onshore, Offshore), By Type (Commodity Oil Field Chemicals), By Region and Competition,
has evaluated the future growth potential of Saudi Arabia Oil Field Chemicals Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Saudi Arabia Oil Field Chemicals Market.”
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